Relyea Zuckerberg Hanson LLC Invests $272,000 in Marathon Petroleum Corporation $MPC

Key Points

• Relyea Zuckerberg Hanson LLC invested $272,000 in Marathon Petroleum Corporation, acquiring 1,636 shares during the second quarter.
• Marathon Petroleum reported earnings of $3.96 EPS for the quarter, exceeding estimates by $0.74, despite a year-over-year revenue decline of 11.1%.
• Brokerages have mixed ratings on Marathon Petroleum, with a consensus price target of $196.29 and eight analysts giving a "Buy" rating.

Relyea Zuckerberg Hanson LLC bought a new stake in Marathon Petroleum Corporation (NYSE:MPC - Free Report) during the second quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The fund bought 1,636 shares of the oil and gas company's stock, valued at approximately $272,000.

Several other large investors have also recently bought and sold shares of the stock. Good Steward Wealth Advisors LLC acquired a new position in shares of Marathon Petroleum during the 1st quarter worth approximately $346,000. Silver Oak Securities Incorporated acquired a new position in Marathon Petroleum during the first quarter worth $339,000. Financial Partners Group LLC raised its position in Marathon Petroleum by 65.8% during the first quarter. Financial Partners Group LLC now owns 3,937 shares of the oil and gas company's stock worth $574,000 after acquiring an additional 1,563 shares in the last quarter. Oppenheimer Asset Management Inc. lifted its stake in Marathon Petroleum by 8.0% in the first quarter. Oppenheimer Asset Management Inc. now owns 44,387 shares of the oil and gas company's stock valued at $6,467,000 after acquiring an additional 3,291 shares during the last quarter. Finally, Jump Financial LLC grew its position in shares of Marathon Petroleum by 128.0% in the 1st quarter. Jump Financial LLC now owns 8,663 shares of the oil and gas company's stock valued at $1,262,000 after acquiring an additional 4,863 shares during the period. 76.77% of the stock is owned by institutional investors and hedge funds.

Wall Street Analysts Forecast Growth

Several brokerages recently issued reports on MPC. TD Cowen cut their target price on shares of Marathon Petroleum from $190.00 to $182.00 and set a "buy" rating for the company in a research note on Wednesday, August 6th. Citigroup increased their price target on Marathon Petroleum from $144.00 to $182.00 and gave the company a "neutral" rating in a research note on Wednesday, July 16th. Barclays boosted their target price on shares of Marathon Petroleum from $159.00 to $189.00 and gave the company an "overweight" rating in a report on Friday, July 11th. Dbs Bank upgraded shares of Marathon Petroleum to a "moderate buy" rating in a research note on Monday, July 28th. Finally, Morgan Stanley raised their price objective on Marathon Petroleum from $182.00 to $200.00 and gave the company an "overweight" rating in a research note on Friday. Eight research analysts have rated the stock with a Buy rating and nine have assigned a Hold rating to the company. According to data from MarketBeat, the company presently has a consensus rating of "Hold" and a consensus price target of $196.29.

Marathon Petroleum Price Performance

MPC opened at $193.34 on Tuesday. Marathon Petroleum Corporation has a 1 year low of $115.10 and a 1 year high of $201.61. The company has a debt-to-equity ratio of 1.15, a current ratio of 1.23 and a quick ratio of 0.71. The company has a market capitalization of $58.78 billion, a price-to-earnings ratio of 28.69, a P/E/G ratio of 3.35 and a beta of 0.90. The firm's fifty day moving average price is $177.39 and its two-hundred day moving average price is $162.63.

Marathon Petroleum (NYSE:MPC - Get Free Report) last announced its earnings results on Tuesday, August 5th. The oil and gas company reported $3.96 EPS for the quarter, beating the consensus estimate of $3.22 by $0.74. Marathon Petroleum had a net margin of 1.58% and a return on equity of 8.38%. The company had revenue of $34.10 billion during the quarter, compared to the consensus estimate of $31.70 billion. During the same quarter in the prior year, the company posted $4.12 earnings per share. The firm's revenue for the quarter was down 11.1% on a year-over-year basis. As a group, analysts anticipate that Marathon Petroleum Corporation will post 8.47 earnings per share for the current fiscal year.

Marathon Petroleum Announces Dividend

The firm also recently announced a quarterly dividend, which was paid on Wednesday, September 10th. Stockholders of record on Wednesday, August 20th were paid a $0.91 dividend. This represents a $3.64 dividend on an annualized basis and a dividend yield of 1.9%. The ex-dividend date was Wednesday, August 20th. Marathon Petroleum's payout ratio is presently 54.01%.

Insider Activity

In related news, insider Molly R. Benson sold 10,879 shares of the stock in a transaction that occurred on Friday, August 15th. The stock was sold at an average price of $163.00, for a total transaction of $1,773,277.00. Following the completion of the sale, the insider directly owned 28,700 shares of the company's stock, valued at approximately $4,678,100. This trade represents a 27.49% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which can be accessed through this link. 0.25% of the stock is currently owned by corporate insiders.

Marathon Petroleum Company Profile

Marathon Petroleum Corporation, together with its subsidiaries, operates as an integrated downstream energy company primarily in the United States. The company operates through Refining & Marketing, and Midstream segments. The Refining & Marketing segment refines crude oil and other feedstocks at its refineries in the Gulf Coast, Mid-Continent, and West Coast regions of the United States; and purchases refined products and ethanol for resale and distributes refined products, including renewable diesel, through transportation, storage, distribution, and marketing services.

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